ECON-GB 2190 Emerging Economies Midterms (Qns & Ans) 2026

ECON-GB 2190 Emerging Economies Midterms (Qns & Ans) 2026
1. Which of the following is a characteristic of an emerging
economy?
 - A) High-income levels
 - B) Rapid industrialization
 - C) Stable political environment
 - D) Low population growth
 - ANS: B) Rapid industrialization
 - Rationale: Emerging economies are characterized by rapid
industrialization and economic growth.
2. In the context of emerging economies, what does the term
"BRICS" stand for?
 - A) Brazil, Russia, India, China, South Africa
 - B) Brazil, Romania, Indonesia, China, South Korea
 - C) Belgium, Russia, India, Chile, Singapore
 - D) Brazil, Russia, Italy, China, Spain
 - ANS: A) Brazil, Russia, India, China, South Africa
 - Rationale: BRICS is an acronym for five major emerging
economies: Brazil, Russia, India, China, and South Africa.
3. Which financial institution is primarily responsible for
providing financial assistance to developing countries?
 - A) International Monetary Fund (IMF)
 - B) World Bank
 - C) European Central Bank (ECB)
 - D) Federal Reserve
 - ANS: B) World Bank
 - Rationale: The World Bank provides financial and technical
assistance to developing countries for development projects.
 Fill-in-the-Blank Questions
4. The ___________ is a measure of the total economic output of
a country, adjusted for inflation.
 - ANS: Real Gross Domestic Product (GDP)
 - Rationale: Real GDP measures the value of all goods and
services produced in a country, adjusted for changes in price
levels.
5. ___________ is the process by which a country transitions
from a low-income economy to a high-income economy.
 - ANS: Economic Development

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